The Burlington Electric Department is entering negotiations to buy out the co-owners of the 40-year-old wood-fired McNeil Generating Station, which would make the city its sole owner, officials announced Tuesday. BED owns 50 percent of the plant, while Green Mountain Power, the state’s largest utility, owns 31 percent. The balance, 19 percent, is owned by the Vermont Public Power Supply Authority, which supports the state’s municipal and cooperative electric utilities. BED General Manager Darren Springer said Tuesday that buying out the McNeil partners would “give us control of our destiny” and allow the city to pursue an array of innovations at the site without the need to consult partners. “This is an exciting, tangible and creative way to try to reach some of the goals that we have from an environmental standpoint,” Springer said. The parties will enter a six-month negotiation to see if they can reach an agreement to transfer the minority ownership stakes, which would be subject to regulatory approval. The development comes as something of a surprise given Mayor Emma Mulvaney-Stanak's pledge during last year’s campaign to “develop a responsible transition plan to close the McNeil plant.” Mulvaney-Stanak said she still supports ending the burning wood of chips for electricity at McNeil — eventually. She has realized the site holds promise for  innovative renewable energy projects that could be difficult to pull off with partners involved, she said. “It takes two additional steps with two additional owners right now,” she said. Springer said he wanted to make it "crystal clear" that the move is not a step toward plant closure. BED is considering other energy initiatives on the Intervale property, including adding battery storage and a wood chip dryer. The City Council last year required BED to explore whether using waste heat from the plant to dry the green wood chips before they are burned, much like seasoning firewood, would improve the plant’s efficiency. Springer also noted that the council has called for the department to explore ways to reduce emissions from the plant by 25 percent in five years and 50 percent in 10 years, which will be challenging. McNeil has come under significant criticism from environmental advocates for being the single largest source of carbon pollution in the state and its costly method of generating electricity. The plant burns hundreds of tons of wood chips each year, mostly from waste wood on logging jobs…